XRP price drops by 8% after Ripple announced xRapid, trend reversed?

Even as the recent Swell conference brought the news that many XRP enthusiasts were waiting for, the price of the token failed to hike. News of the launch of xRapid shook the cryptosphere, and XRP tanked with a loss of over 8%, making it the biggest loser among the top 10.

The coin, which finished September 2018 on the back of an 80% increase, is now slowly erasing its gains as time passes. It was trading at $0.51 on September 26th, and proceeded to see a hike to $0.53 on the same day. This was followed by a hike to $0.56 a few hours later

The next day, the price of XRP dropped to $0.50, only to see another hike to $0.55 on September 28th. It dropped to $0.52 later that day, and hiked again to $0.57 on September 29th.

It touched a high of $0.61 on September 30th, and proceeded its downward movement. It dropped to $0.56 on October 1st, leaving many investors to catch the drop.

It hiked soon after to $0.59 on the same day, before droping to $0.51 on October 3rd. It is now slowly trying to recover to the $0.51 level.

The technicals are also demonstrating a bleak outlook for the coin, as it broke below two of its most integral trend lines. $0.572, $0.54 are the two limits for the coin. $0.512 is an important trend line for the coin at this time, with the $0.48 and $0.44 lines providing further support.

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